1. Field of the Invention
The invention is in the field of computerized networked insurance methods, with a specific emphasis on travel insurance, travel medical insurance, and health insurance.
2. Description of the Related Art
Insurance policies usually provide various types of coverage benefits (e.g. hospitalization benefits, ambulance benefits, emergency care benefits). Although prior art computerized systems exist whereby a consumer (user) may use a web browser to access a server and purchase insurance, these prior art systems do not provide enough comparative information and ability to construct alternative scenarios to enable a consumer or user to make a fully informed purchasing decision.
Thus at present, a consumer might purchase an insurance policy with a low premium without clearly understanding the various types of coverage benefits provided by the insurance policy, and the costs the consumer might incur when it is time to file a claim.
As a result, the consumer might end up paying a higher cost at the time of filing a claim. Alternatively, the consumer may purchase more insurance than is likely to be needed under most realistic scenarios, and end up spending more as a result. Both outcomes are unsatisfactory.